FedEx Co. (NYSE:FDX) VP Guy M. Erwin II Sells 2,749 Shares

FedEx Co. (NYSE:FDX) VP Guy M. Erwin II sold 2,749 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $289.11, for a total value of $794,763.39. Following the completion of the sale, the vice president now directly owns 486 shares in the company, valued at $140,507.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

FedEx Stock Performance

Shares of NYSE FDX traded down $1.11 during trading on Wednesday, hitting $287.88. The company had a trading volume of 1,786,434 shares, compared to its average volume of 2,188,714. The stock has a 50 day simple moving average of $248.74 and a 200 day simple moving average of $252.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.26 and a current ratio of 1.31. FedEx Co. has a 12 month low of $213.80 and a 12 month high of $291.27. The firm has a market capitalization of $70.84 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.20.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Thursday, March 21st. The shipping service provider reported $3.86 EPS for the quarter, topping the consensus estimate of $3.49 by $0.37. The firm had revenue of $21.70 billion for the quarter, compared to the consensus estimate of $21.95 billion. FedEx had a return on equity of 16.60% and a net margin of 5.02%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.41 earnings per share. As a group, analysts anticipate that FedEx Co. will post 17.61 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be paid a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, March 8th. FedEx’s dividend payout ratio (DPR) is presently 29.07%.

FedEx announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 21st that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the shipping service provider to reacquire up to 7.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Robert W. Baird increased their target price on FedEx from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 22nd. Bank of America increased their target price on FedEx from $313.00 to $346.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Raymond James cut their target price on FedEx from $279.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 20th. Finally, BMO Capital Markets increased their price objective on FedEx from $290.00 to $310.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $298.89.

Institutional Trading of FedEx

Several institutional investors and hedge funds have recently added to or reduced their stakes in FDX. Fortis Group Advisors LLC raised its stake in FedEx by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 100 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC bought a new stake in FedEx during the 4th quarter valued at approximately $25,000. Financial Management Professionals Inc. raised its stake in FedEx by 143.2% during the 4th quarter. Financial Management Professionals Inc. now owns 107 shares of the shipping service provider’s stock valued at $27,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC bought a new stake in FedEx during the 4th quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. purchased a new position in FedEx during the 4th quarter valued at approximately $30,000. Institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.